PYMNTS

JULY 8, 2020

“Traditional banks have invested very little in how to improve the customer experience,” said Alexandre Liuzzi , co-founder and chief strategy officer at Brazilian financial technology provider BeeTech. A Brazilian bank, for example, has to have another correspondent bank [in Brazil] that communicates with a correspondent bank in the U.S.,

Cross-Border

PYMNTS

JANUARY 18, 2019

“The most advanced technology is [electronic data interchange (EDI)].” ” EDI is a mechanism that allows companies to exchange data electronically, to replace manual communication channels like fax or paper correspondence. The technology first emerged in the 1970s. Betting On Blockchain.

B2B

Nanonets

JULY 10, 2024

Even in the business world, invoices use this structure: items purchased are the keys, with prices as their corresponding values. An example of key-value pair extraction KVPs are the building blocks of many data structures and databases. The beauty of KVPs lies in their simplicity and flexibility.

Database

Nanonets

JULY 14, 2023

Information Extraction - once the Process of OCR is complete it’s important to identify which piece of text corresponds to which extracted field. Data dump - once the information has been extracted it needs to be stored in a retrievable format like A database An excel sheet An ERP system. Why digitize invoices?

Automation

CB Insights

DECEMBER 19, 2017

Now, swimmers may see new benefits from the Apple Watch, too: A new patent surfaced in the CB Insights database would enable long-distance swimmers to keep track of their location based on the “radio frequency signals communicated” by their wrist-worn device. Research Briefing: Apple Strategy Teardown.

Correspondent

PYMNTS

NOVEMBER 8, 2017

This year’s launch encompasses phase one, geared toward B2B payments, while a second phase will look to further digitization efforts and a third will focus on emerging technologies such as those tied to distributed ledgers. The third phase will explore new and emerging technologies, such as distributed technologies.

SWIFT

Finovate

MARCH 29, 2024

AU10TIX’s technology enables businesses to quickly, accurately, and securely verify a wide variety of types of identification, including physical, digital, eID, verifiable credentials, and more. The company leverages customized Generative AI technology to help bank KYC processes work 10x more effectively. based neobank Novus.

Verification

Nanonets

JUNE 8, 2023

Introduction to Airtable Airtable is a versatile tool that integrates the simplicity of a spreadsheet with the power of a database, and has dramatically altered the landscape of collaborative work. One key feature that stands out in Airtable is its powerful relational database functionality. What is Airtable good at?

Database

FICO

JANUARY 22, 2021

The reports are stored in the Consumer Sentinel Network (Sentinel), a secure online database available only to law enforcement partners, which can use information in the database to spot trends, identify questionable business practices and targets, and enforce the law.

Credit Cards

PYMNTS

APRIL 22, 2019

Banks have the customer and financial institution (FI) relationships needed to facilitate trade finance, while FinTech firms have the technology to digitize and accelerate the process for participating parties. However, both sides struggle with making trade finance profitable, and maintaining compliance.

Finance

Nanonets

APRIL 4, 2023

With the rise of digital mailroom automation technologies, companies can streamline their mail processes, increase efficiency, and reduce costs. Automated scanners and other advanced technologies, such as Optical Character Recognition (OCR), are typically used to handle postal mail and accurately read and convert documents.

Automation

PYMNTS

FEBRUARY 20, 2018

In addition, innovators the world over are exploring how technologies like blockchain could address payments speeds and efficiency on an international level. Financial literacy is also key, while regulatory initiatives to address a decline in correspondent banking relationships — critical to cross-border payments — may also help.

Cross-Border Payments

Nanonets

JULY 31, 2023

For scanned PDFs or PDFs containing images of text, OCR technology was used to recognize and extract the text, using tools like Tesseract. To understand more about the technology behind LLMs, go to Appendix I. We create a vector database using the chunks. We will save it the database for future use as well.

API

Stax

AUGUST 20, 2024

Regardless of what you call it, all of these systems are based around the same underlying technology, and they each provide an extra layer of security when processing online payments. This provides another incentive for customers to use this technology. The technology industry and its capabilities move at a rapid pace.

Authentication

Nanonets

JUNE 24, 2024

The advanced transaction matching algorithms are capable of matching the credit card transactions with the corresponding entries in the accounting system. Intelligent OCR technology can save you from manual data entry Now, download the credit card statement that your credit card issuer has provided you for the specified time period.

Reconciliation

PYMNTS

NOVEMBER 6, 2019

The complexity of having to match those against the corresponding invoice charges or customer billing is incredibly complex if you don’t have an automated solution.”. Data analytics technology has found an opportunity to address this point of friction with the ability to automatically examine those millions, or billions, of data points.

Volume

FICO

FEBRUARY 20, 2018

Recently, this has included applying advanced unsupervised learning to money laundering, one of the many domains in which FICO technology fights financial crime. Some new data may be an outlier compared to the training database by being exaggerations or mutations of normal data. That individual would be a topological outlier!

AML

Nanonets

MARCH 30, 2023

Manual data entry involves the use of human operators to input data into a computer system or database, and this process can be time-consuming and error-prone. The solution to this problem is optical character recognition (OCR), a technology that can help automate many of these manual processes.

Automation

PYMNTS

SEPTEMBER 30, 2019

He began considering how to create a technological crutch for the enthusiastic art creator who suffers from the small defect of not knowing how to make anything. On the phone or tablet screen, the chosen image is divided into nine squares that correspond with the nine canvas tiles provided with the kit.

Origination

Nanonets

NOVEMBER 14, 2023

Leveraging advanced technologies such as OCR and automation, document capture systems streamline workflows, empowering teams to swiftly locate and retrieve information. This involves scanning or document imaging, wherein essential data is collected, categorized, processed, and placed into databases. invoices, orders, receipts).

Automation

Nanonets

NOVEMBER 16, 2023

It offers a comprehensive database and tools for effective lead scoring, email tracking, and sales engagement. Lusha : Lusha's enrichment API allows for easy connection with systems, apps, or databases, providing detailed contact and company information. It offers a simple setup and secures data transfer with SSL encryption.

Automation

Segpay

APRIL 22, 2024

5 minute read Network tokenization is a technology used in the payment industry to enhance the security of digital and mobile payments. Let’s explore how merchants and PSPs benefit from network tokenization and how this innovative technology revolutionizes the payment industry.

Data Breach

Nanonets

JUNE 21, 2023

Verify transactions Go through each transaction listed in the bank statement and compare it with the corresponding transaction recorded in the internal records. The first step is to compare the beginning balance of each bank account listed on the bank statements with the corresponding balance recorded in the general ledger.

Reconciliation

Nanonets

MARCH 30, 2023

The final output is a structured data format that can be easily integrated into other systems, such as databases or business intelligence tools, for further analysis and reporting. The structured data is then validated and cleaned, and any missing or incorrect data is corrected or flagged for manual review.

Process

Nanonets

DECEMBER 11, 2023

Data entry powered by AI refers to using artificial intelligence technologies to automate the process of extracting and inputting data into digital systems for further use. Your team will no longer have to manually type information into forms, applications, or databases. What is AI data entry? And that’s only half of the story.

AI

Nanonets

NOVEMBER 20, 2023

3-Way Matching: Alignment of the invoice with the corresponding purchase order and receiving report in a 3-way matching process. Validation of Legitimacy: Automated systems use algorithmic rules and databases to validate the legitimacy of vendors, reducing the risk of processing invoices from fraudulent or unverified sources.

Payment Reconciliation

Nanonets

FEBRUARY 21, 2024

Today, AP automation technology can automate what was once a laborious process. The Evolution of Invoice Processing The journey of invoice processing from its traditional, manual roots to the digital frontier is a tale of technological evolution. Let's see how this works, and how you can set this up for your teams.

Automation

Nanonets

SEPTEMBER 25, 2024

Data extraction   Key bank statement fields Data extraction tools automatically extract pertinent information from bank statements using machine learning-enhanced optical character recognition (OCR) technology. Reconciliation This step involves matching the extracted data with the company’s internal records.

Process

FICO

JANUARY 19, 2022

Banks can deploy additional sophisticated technology measures to reduce card fraud. The graphs below show the top fraud types reported to the FTC in 2019 and corresponding dollar loss amounts. Credit card fraud was the FTC’s second most-reported fraud type in 2019.

Financial Crimes

Nanonets

MARCH 4, 2024

AI technologies offer promising solutions to these age-old problems, automating mundane tasks, enhancing accuracy, and streamlining processes. A modern expense management software like Nanonets employs these technological advancements to make expense management seamless, efficient and error-free.

AI

Nanonets

JULY 12, 2024

These technologies work together to extract data and understand it. It can flag potential drug interactions or alert staff to critical information, all while accurately populating the hospital's database. The algorithm creates a character map based on strokes and recognizes corresponding letters to extract the text.

Process

Nanonets

JUNE 15, 2023

PO Verification : The AP clerk checked the PO number on the invoice, then manually searched for the corresponding PO in a filing cabinet or electronic system. The firm integrated Optical Character Recognition (OCR) and automated workflow technologies into its operations.

Automation

Nanonets

DECEMBER 10, 2023

IDP leverages cutting-edge technologies, such as artificial intelligence and machine learning, to automate the extraction, interpretation, and processing of information from diverse documents. Document Classification: The technology categorizes documents based on their content, allowing for streamlined processing and efficient organization.

Automation

Nanonets

MAY 22, 2023

The answerbot revolutionizes the handling of Zendesk tickets, providing swift responses, leveraging information from your website in the Zendesk database, and delivering a seamless workflow by updating tickets in Zendesk, all contributing to a personalized Zendesk chatbot experience.

Payment APIs and Integration

Exact Payments

JANUARY 4, 2024

Employing encryption technology is crucial, as it renders intercepted data unreadable, thereby ensuring the safety and privacy of cardholder information. In the card data environment, patching should be applied to all systems, such as: Operating systems Firewalls, Routers, Switches Application software Databases POS terminals 7.

PCI DSS

Nanonets

APRIL 18, 2023

The data thus read is stored in easy-to-access applications such as a spreadsheet or a database.  Optical Get Started for Free Automated invoice readers Software used to automatically read invoices can work on either second generation or third generation technology. Build your own model or request a demo today!

Automation

Nanonets

FEBRUARY 28, 2024

In an era where efficiency and accuracy are paramount, harnessing technology to manage your General Ledger can be a game-changer. GL Coding General Ledger Codes, or GL Codes, are unique alphanumeric strings that classify and record financial transactions within a company’s general ledger into corresponding GL account.

Automation